TIF Presentation Aug 1 06A Development by Cooper & Stebbins
TIF Meeting
August 1, 2006
Southlake Town Square
Snapshot at August 1, 2006
960,000 SF completed to date
Grand Avenue District opened April 1, 2006 and is trading well
Overall Comparable Store sales (i.e., stores open at least one year) have increased from 2005 to 2006 in existing Phases
Overall Project occupancy (including Grand Avenue District) is 96% (Phases 1 – 3 are over 97%)
Phase 1 of The Brownstones (31 homes) began phased turn-over to Buyers in March 2006. 30 homeowners are expected to have closed and moved in by end of August 2006 (Main/Central Corner
home expected by year-end).
Summit Park will be completed in August.
Southlake Town Square
2006 Development in Progress
Hilton Hotel (212,000 SF, 250 rooms) on schedule to open prior to year-end 2006
Truluck’s (8,100 SF) under construction and scheduled to open by end of November 2006
Robb & Stucky/Henredon (26,000 SF) expected to commence construction by end of August, and open by mid-year 2007
Siteworks are substantially complete on Brownstones Stage 2 (40 homes) and Stage 3 (est. 40 homes). Homes will be progressively completed for turnover to buyers in 2007 through end
of 2008.
Block 22 Site Plan (47,000 sq. ft. of mixed retail/office) has been submitted for City’s consideration. A 4th Quarter 2007 opening is targeted.
Upon Completion of current development activity, Town Square development will exceed 1.5 Million SF.
Completed to Date
TOTAL 960,000 sq. ft.
Comprised of
Retail/Restaurant 461,000
Office 228,000
Governmental 100,000
Movie Theater 68,000
Residential 103,000
In Construction/Development
TOTAL 555,000 sq. ft.
Comprised of
Retail/Restaurant 68,000
Office 12,000
Hotel 212,000
Residential 263,000
A Development by Cooper & Stebbins